Divorce is no easy thing. Already trapped in emotional turmoil, you still have to be sane enough to deal with the legal and financial issues, especially if you have little children to take care of and a mortgaged house. Already thinking of relocating? A California refinance could be your ticket out of the blues.
Who Takes the House?
A thorny issue in divorce is the home. If you're the wife and saddled with young children and with nowhere to go, losing the home can be traumatic. Yet, you can refit the ship to make things work in your favor, barring legal issues that disqualify you to the home that is presently mortgaged. There will be some technicalities to deal with before you fly to California. Refinance loans can always help you move on with your life.
You take the house if it's a property you owned and mortgaged before marriage. But during the marriage, if your spouse contributed towards the monthly payment, you can sell the house to solve the issue and contact a refinance company to buy a new home from the sales proceeds of your property.
If the house was brought by your spouse through a loan and the documents bear both of your names, the only recourse would be to sell the house to remove your names from the contract. If this is not sold and your spouse resumes the mortgage, the bank or the mortgage lender can always run after you if there are late or unpaid dues. As long as your name is on record, you will be affected by the non-payment of the mortgage.
Or if your spouse agrees, you can refinance the home in your name alone. This absolves him or her from any default payment on the mortgage. It's your sole responsibility then to take charge of the mortgage and arrange for a California refinance.
Ex-couples always decide for a sale to get rid of the encumbrances of a mortgage, which is a smart move for both of them. The next issue is to get each their equal share if the house is sold, but the court often has a say on the matter after deliberating considerations.
What to Do Before Moving?
Before a refinance, you've have to check out those beautiful houses for sale and choose one within your budget. Make sure that a house is available for sale so you know how much you are going to borrow. Once your California refinance has been closed, start planning the move. There is packing to do, children to be removed from school, and movers to contact.
A month before your move, inform your boss and file your resignation. Or if you're self-employed, check out the possibilities for your business in sunny California. It's no use going to California not knowing how you're going to survive alone.
The move will affect the children, but take things one at a time because there's no shortcut to solving this problem. So deal with those fits of crying, tantrums, and defiance patiently - even if you're miserable and angry yourself.
The emotional side is the hardest to deal with, but the physical and financial aspects has to be resolved fast if you have little children to look after. Be glad that a California refinance is available to help move ahead.
